Tmall: Constant growth has always been our unique advantage
Alibaba Group’s online retail platform Tmall announced an uptick in the number of new merchants on the marketplace, as well as a rise in transaction volume among new joiners.
The total transaction volume of new merchants on the platform in the first quarter increased by 150% year-on-year, and nearly 200 brands sold over RMB1 million ($138,201) worth of merchandise.
Recently, the business earmarked more resources for business development among its merchants, with plans to triple the scale of resources dedicated to new products.
“Constant growth has always been our unique advantage,” Mu Shan, General Manager of FMCG at Taobao and Tmall Group, said at Tmall’s Top Talk 2024 event in Shanghai earlier this month.
Over the last year, Tmall launched more than 4,100 brands with sales of RMB100 million, the platform reported, in addition to some 5,000 brands with sales exceeding RMB10 million within three years of opening.
my’s AI-powered tools were recently put to use at two hospitals at Lishui city in China’s Zhejiang province as part of Alibaba’s philanthropy programs.
